What aid will people generally qualify for?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
hoosierball
Posts: 72
Joined: Tue May 18, 2010 9:51 am

What aid will people generally qualify for?

Postby hoosierball » Tue Nov 29, 2011 12:47 pm

I am not willing to disclose complete financial situation. But on the FAFSA in graduate school all people are considered independent. With relatively normal savings, do most/man students qualify for Government Subsidized loans? What else do students qualify for?

Thanks

User avatar
Kabuo
Posts: 1114
Joined: Tue Aug 31, 2010 8:53 am

Re: What aid will people generally qualify for?

Postby Kabuo » Tue Nov 29, 2011 12:51 pm

The man students do. And I think normal savings for a law student are approximately $0 - UG debt.

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Tue Nov 29, 2011 1:02 pm

Kabuo wrote:The man students do. And I think normal savings for a law student are approximately $0 - UG debt.


What about the woman students?

MichNole19
Posts: 92
Joined: Sat Oct 15, 2011 5:21 pm

Re: What aid will people generally qualify for?

Postby MichNole19 » Tue Nov 29, 2011 1:06 pm

The anwser is none, thanks to the latest budget beginning in Fall 2012 the government will no longer offer Subsidized Graduate/Professional Student Loans.

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Tue Nov 29, 2011 1:10 pm

MichNole19 wrote:The anwser is none, thanks to the latest budget beginning in Fall 2012 the government will no longer offer Subsidized Graduate/Professional Student Loans.


Thought this was a joke, until:

http://www.dailycal.org/2011/08/03/federal-graduate-loan-subsidy-eliminated-in-debt-ceiling-deal/

DAMNIT.

tennisking88
Posts: 655
Joined: Thu Jul 21, 2011 1:15 am

Re: What aid will people generally qualify for?

Postby tennisking88 » Tue Nov 29, 2011 1:22 pm

MichNole19 wrote:The anwser is none, thanks to the latest budget beginning in Fall 2012 the government will no longer offer Subsidized Graduate/Professional Student Loans.


The gov't will still give out the traditional 20,500 stafford loan (which will actually be raised), but the student will no longer receive the traditional "subsidy" that delayed payment on interest until the student has graduated. Now the interest needs to be paid/or is accumulated as soon as the loan is taken out.

hoosierball
Posts: 72
Joined: Tue May 18, 2010 9:51 am

Re: What aid will people generally qualify for?

Postby hoosierball » Tue Nov 29, 2011 4:50 pm

Too bad, a subsidized loan would have really helped, not too many other sources for that....

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Tue Nov 29, 2011 5:03 pm

Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.

03121202698008
Posts: 3002
Joined: Fri Jul 17, 2009 2:07 am

Re: What aid will people generally qualify for?

Postby 03121202698008 » Tue Nov 29, 2011 6:19 pm

Essentially only merit aid. Almost all law students are horribly insolvent or will be once they cut the first loan check.

User avatar
vanwinkle
Posts: 9740
Joined: Sun Dec 21, 2008 3:02 am

Re: What aid will people generally qualify for?

Postby vanwinkle » Tue Nov 29, 2011 6:23 pm

blowhard wrote:Essentially only merit aid. Almost all law students are horribly insolvent or will be once they cut the first loan check.

Truth. I got a statement from Discover, who is servicing just my 1L GradPLUS loans, a small chunk of my total debt. I nearly had a heart attack at how many thousands in interest I'd accrued already.

User avatar
Tiago Splitter
Posts: 15464
Joined: Tue Jun 28, 2011 1:20 am

Re: What aid will people generally qualify for?

Postby Tiago Splitter » Tue Nov 29, 2011 11:20 pm

InGoodFaith wrote:Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.


It really doesn't make a big difference, especially for people taking out six figures in loans.

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Tue Nov 29, 2011 11:48 pm

Tiago Splitter wrote:
InGoodFaith wrote:Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.


It really doesn't make a big difference, especially for people taking out six figures in loans.


ITT, we discover who was a business major and who was not.

User avatar
Tiago Splitter
Posts: 15464
Joined: Tue Jun 28, 2011 1:20 am

Re: What aid will people generally qualify for?

Postby Tiago Splitter » Wed Nov 30, 2011 12:13 am

InGoodFaith wrote:
Tiago Splitter wrote:
InGoodFaith wrote:Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.


It really doesn't make a big difference, especially for people taking out six figures in loans.


ITT, we discover who was a business major and who was not.


U serious clark?

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Wed Nov 30, 2011 12:35 am

Thousands (probs tens of 'em over the life of the loan) are not chump change. That's like when people are buying a car and say "Oh what's another $20 a month?"

Point: just because you are purchasing something expensive doesn't mean you should just throw money away.

User avatar
Tiago Splitter
Posts: 15464
Joined: Tue Jun 28, 2011 1:20 am

Re: What aid will people generally qualify for?

Postby Tiago Splitter » Wed Nov 30, 2011 12:43 am

InGoodFaith wrote:Thousands (probs tens of 'em over the life of the loan) are not chump change. That's like when people are buying a car and say "Oh what's another $20 a month?"

Point: just because you are purchasing something expensive doesn't mean you should just throw money away.


Oh you were serious.

$8500 X 6.8% = $578

Tens of thousands? lolno. Every little bit does hurt, but people freaking out over a bankrupt government taking away this subsidy need to calm down. It isn't nearly enough to change, for example, the decision to go to law school.

User avatar
20130312
Posts: 3842
Joined: Wed Nov 09, 2011 8:53 pm

Re: What aid will people generally qualify for?

Postby 20130312 » Wed Nov 30, 2011 1:26 am

$578 per year times number of years loan is outstanding (10 years? 20? The rest of your miserable debt-ridden life?). God forbid any of the interest is allowed to capitalize and you have to pay interest on that too.

User avatar
Tiago Splitter
Posts: 15464
Joined: Tue Jun 28, 2011 1:20 am

Re: What aid will people generally qualify for?

Postby Tiago Splitter » Wed Nov 30, 2011 1:33 am

InGoodFaith wrote:$578 per year times number of years loan is outstanding (10 years? 20? The rest of your miserable debt-ridden life?). God forbid any of the interest is allowed to capitalize and you have to pay interest on that too.


Good God Mr. Business Major, get it together. The subsidy didn't last forever. Jesus.

User avatar
dr123
Posts: 3503
Joined: Tue Jan 04, 2011 2:38 am

Re: What aid will people generally qualify for?

Postby dr123 » Wed Nov 30, 2011 1:39 am

InGoodFaith wrote:Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.


#firstworldproblems

User avatar
dood
Posts: 1639
Joined: Tue Apr 21, 2009 11:59 am

Re: What aid will people generally qualify for?

Postby dood » Wed Nov 30, 2011 2:04 am

dr123 wrote:
InGoodFaith wrote:Subsidized would have saved you thousands. Congress royally screwed already struggling law school students.


#firstworldproblems


seriously, none of this will matter when things come to The ROAD. hope u got extra bullets and r down with cannibalism.

fav movie ever:
http://www.youtube.com/watch?v=hbLgszfXTAY




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 2 guests